If it wouldn't be for these problems oil prices would be much lower.
It is now becoming apparent just how much damage and just how far-reaching Hurricane Ike was. Aside from nearly completely wiping out Texas coastal cities and leaving millions of Texas residents without power, Ike destroyed oil platforms and caused pipelines to rupture.
Reportedly, at the very least, a half-million gallons of oil have leeched into not just the Gulf of Mexico, but also bayous and bays of both Texas and Louisiana. The hardest hit areas have been near Houston and Port Arthur, Texas and oil production companies just off Louisiana's coast.
Numerous types of pollution are in the air as a result of the oil, gasoline, and natural gas that have been released. All along the Texas coast, the Coast Guard, the EPA, and state agencies have been working to handle 3,000 reports of pollution.
Currently, there are no major spills or hazardous material released though that could change as about 1,500 sites are waiting to be cleaned up.
